Summary

Market Research Future added New Report Named "Global Offshore Mooring Systems Market Research Report- Forecast 2023" to its Database

Press Release

Mooring Systems support the anchorage of the ships or floating vessels and platforms across all sorts of water depths. The market of offshore mooring systems has seen a huge growth from the last few years. The factors which affect the market of offshore mooring systems are growth in oil and gas production and growing demand for energy. As the population is continuously growing mainly in the countries such as China and India, the demand of energy is also growing high, which lead the market of offshore mooring systems. Along with this, purchasing power of consumers are also increasing, which leads the high demand of transportation fuels. Demand for transportation fuels further boost the market of offshore mooring systems. However, lack of technological knowledge among the players may be a major challenge for the growth of the market.

On the basis of type, spread mooring systems accounted the largest share in 2017 and is expected to retain this position till 2023. These moors can be utilized in a various range of platforms such as mobile offshore drilling units (MODU).

On the basis of anchorage, the market is segmented into Drag Embedment Anchors (DEA), suction anchors, vertical load anchors, driven pile, and others. The suction anchors segment accounted for the largest market share in 2017 and is also projected to experience maximum growth from 2018 to 2023. This is attributed to its cost-effective and more safely nature.